| Peso Mexicano (Spanish) | |
|---|---|
| ISO 4217 | |
| Code | MXN (numeric: 484) |
| Subunit | 0.01 |
| Unit | |
| Symbol | $ or Mex$[1] |
| Denominations | |
| Subunit | |
| 1⁄100 | centavo |
| Symbol | |
| centavo | ¢ |
| Banknotes | |
| Freq. used | $20, $50, $100, $200, $500 |
| Rarely used | $1,000 |
| Coins | |
| Freq. used | $1, $2, $5, $10, $20 |
| Rarely used | 5¢, 10¢, 20¢, 50¢, $50, $100 (all of them no longer minted, still legal tender) |
| Demographics | |
| User(s) |  Mexico |
| Issuance | |
| Central bank | Bank of Mexico |
| Website | www |
| Printer | Bank of Mexico |
| Website | www |
| Mint | Casa de Moneda de México |
| Website | www |
| Valuation | |
| Inflation | 4.88% (2024) |
| Source | Banco de Mexico |
Mexican peso crisis in 1994 was an unpegging and devaluation of the peso and happened the same year NAFTA was ratified.[2]
The Mexican peso (symbol: $; currency code: MXN; also abbreviated Mex$ to distinguish it from other peso-denominated currencies; referred to as the peso, Mexican peso, or colloquially varo) is the official currency of Mexico. The peso was first introduced in 1863, replacing the old Spanish colonial real. The Mexican peso is subdivided into 100 centavos, represented by "¢". Mexican banknotes are issued by the Bank of Mexico in various denominations and feature vibrant colors and imagery representing Mexican culture and history.[3] Modern peso and dollar currencies have a common origin in the 16th–19th century Spanish dollar, most continuing to use its sign, "$".[4]
The current ISO 4217 code for the peso is MXN; the "N" refers to the "new peso". Prior to the 1993 revaluation, the code MXP was used. The Mexican peso is the 16th most traded currency in the world, the third most traded currency from the Americas (after the United States dollar and Canadian dollar), and the most traded currency from Latin America.[5] As of 7 June 2024[update], the peso's exchange rate was $19.82 per euro, $18.34 per U.S. dollar, and $13.34 per Canadian dollar.[6]
- ^ "World Bank Editorial Style Guide 2020 - page 137" (PDF). openknowledge.worldbank.org. Archived (PDF) from the original on 2022-08-02. Retrieved 2022-08-22.
- ^ "Distinguishing NAFTA from the Peso Crisis - The Southwest Economy, Issue 5, 1996" (PDF). Dallasfed.org. Archived (PDF) from the original on 16 July 2022. Retrieved 29 July 2022.
- ^ "MXN | Mexican peso | OANDA". www.oanda.com. Retrieved 2024-07-02.
- ^ Corporation, Bonnier (1 February 1930). Popular Science. Bonnier Corporation. Retrieved 16 October 2017 – via Internet Archive.
- ^ "Triennial Central Bank Survey Foreign exchange turnover in April 2013 : preliminary global results : Monetary and Economic Department" (PDF). Bis.org. September 2013. Archived (PDF) from the original on 6 November 2021. Retrieved 16 October 2017.
- ^ "MXN - Mexican Peso rates, news, and tools". Xe.com. Archived from the original on 12 August 2016. Retrieved 21 January 2023.